The short answer? Yes.

As a supplier to business buyers, it is increasingly important to assess and manage your organisation's carbon footprint. This is because businesses and governments are under pressure to manage down their carbon emissions, including those emitted by their supply chain. In fact, many have set net zero targets and need to demonstrate (and also report) the actions they are taking to meet them.

What can you do? First, assess your organisation's carbon footprint. Next, register on givvable and complete our carbon footprint module. Your organisation can earn search tags that boost your visibility to business buyers looking to engage with suppliers taking action on sustainability.
 

Total Carbon Footprint means the amount of greenhouse gas (GHG) emissions that are directly and indirectly emitted by an organisation across its value chain. This is represented by Scope 1, 2 and 3 CO2e emissions.

Scope 1 CO2e emissions are all direct GHG emissions resulting from activities within the organisation's control (includes on-site fuel combustion, manufacturing and process emissions, refrigerant losses and company vehicles).

Scope 2 CO2e emissions are indirect GHG emissions from energy commodities (e.g. electricity) purchased and used by the organisation.

Scope 3 CO2e emissions are all other indirect GHG emissions from the organisation's activities, occurring from sources that they do not own or control. These are usually the greatest share of an organisation's carbon footprint and include emissions associated with business travel, procurement, waste and water, among other activities.

You can get a carbon footprint assessment for your organisation from a service provider, such as a consultant or certifier. These assessments typically adopt one or more of the frameworks outlined below and help your organisation identify the best strategic approach to reducing your carbon footprint.

There are also now many online service providers offering a range of carbon footprint assessment tools, ranging from free carbon footprint calculators to more in-depth assessments based on internal and external data. 

The cost of a carbon footprint assessment typically depends on a range of factors including the scope of assessment, nature of the service being provided (e.g. consultancy vs. online tool) and whether it is based on actual or estimated data. 

The frameworks for assessing carbon footprint share the common objective of providing guidance for standardising, accounting and reporting GHG emissions using science-based methodology. Different frameworks exist to comply with international standards and regional regulations.

ISO 14064 refers to the International Organization for Standardization 14064 for the quantification and reporting of GHG emissions and removal

GHG Protocol refers to the Greenhouse Gas Protocol by World Resources Institute and World Business Council for Sustainable Development

US EPA refers to the United States Environmental Protection Agency Greenhouse Gas Inventory Development Process and Guidance

NGER refers to the Australian National Greenhouse and Energy Reporting Act 2007

PCAF refers to the Global GHG Accounting & Reporting Standard for the Financial Industry by Partnership for Carbon Accounting Financials

You should first implement carbon footprint reduction strategies before offsetting. Not only is this the recommended approach, but it can also improve your organisation's bottom line through energy cost savings, operational efficiency and better environmental, social and governance (ESG) positioning. Carbon offsets are designed to serve as short term initiatives until our system transitions to a net zero economy.

After undertaking a carbon footprint assessment, there are three ways your organisation can develop a robust carbon footprint strategy:

Stage 1: Reduce Scope 1 and Scope 2 CO2e emissions by developing a carbon footprint management plan that identifies opportunities for internally controlled emissions reduction.

Stage 2: Reduce Scope 3 CO2e emissions by mapping your organisation's supply chain. Educate and encourage action by your suppliers. Identify opportunities for emissions reduction and bringing lower carbon products and/or services to market.

Stage 3 (Optional): Consider whether you should consider offsetting any aspect of your organisation's carbon footprint. Identify the activities to be offset, the type of offset to purchased and carry out due diligence on the robustness of offsets.  

First, assess your organisation's carbon footprint. Next, register on givvable and complete our carbon footprint module. Your organisation can earn search tags that boost your visibility to business buyers looking to engage with suppliers taking action on sustainability.

Simple Scope 1 emissions reductions include:

Simple Scope 2 emissions reductions include:

Simple Scope 3 emissions reductions include:

A carbon offset is intended to compensate your carbon emissions by investing in projects that prevent, reduce or remover carbon emissions, such as tree plantation, renewable energy and waste-to-energy. These types of projects can result in social and economic 'co-benefits', in addition to avoiding carbon emissions. 
 

Offsets can come from voluntary or compliance markets. There are two approaches to offsetting: forward offsetting (i.e. future activities) and offsetting in arrears (i.e. cancelling emissions from past activities).

Offsets can be purchased through specialised carbon offset retailers. Even though the standards for offsets are becoming more stringent, the number of carbon-saving projects that may be invested in is increasing.

Examples of verified carbon standards include The Gold Standard (GS), carbon farming initiative (CFI), as well as National Carbon Offset Standard (NCOS) in Australia.